|Approval Date||02 Mar 2005|
|Signature Date||17 May 2005|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The present intervention concerns the Line of Credit (LOC) to Zenith Bank Plc. It involves the provision of a line of credit of up USD 70 million to Zenith Bank Plc of Nigeria for on lending to its corporate clients preferably SMEs. The line of credit should be mainly used to finance enterprise expansion and rehabilitation projects, with strong foreign currency income streams. Its should also be extended to start-ups with strong export potentials and the ability to service a hard currency loan. The sub-loans should be used for asset based financing in various sectors including manufacturing, food industry, transportation, telecommunication, energy and tourism.
The project aims the provision of a line of credit of up USD 70 million to Zenith Bank Plc of Nigeria for on lending to its corporate clients preferably SMEs.
The direct beneficiary of the LOC is Zenith Bank Plc. In addition, it should also benefit the corporate clients of the Bank, especially SMEs.
African Development Bank
|Last Update||15 Jun 2021|